Thursday, April 3, 2014

Simple ways to save more money

We live in a consumer driven society. Keeping up appearances, looking like you have money and throwing everything on the credit card or getting a loan is much more common than living frugally and within your means.

I am generally pretty good with my money. It surprises me how many people who are struggling are over spending in areas they really don't need to. I know it is hard to change your mindset, but here are a few things you can do to save more money.

1.) Shop from your closet. Michelle from the shop my closet project took a year off buying any clothing. She just finished and you can read about the 10 things she learned from doing it. Go through your clothing, make a list of what you have, mix and match items you haven't worn together before. Work out ways to make do with what you have. Mend anything that needs it and take care of your clothing.

When I buy clothes, I buy second hand usually, quality brands that I know will last and I know what size I am in them. I often want new clothes, but I don't need any. I have a good wardrobe I can mix and match and layer up for winter.

2.) Carry a snack and a drink. By always having something to eat and drink on you it stops you buying expensive drinks and snacks when out. It can help tide you over until you get home too.

3.) Is it a want or a need? With every purchase you consider making, ask yourself if it is a want or a need? And don't try to justify it to be a need. If it is a true need, no justification is really necessary.

4.) Have a goal. Having a goal and a reason to save money makes it much easier to stop impulse buys and put the money into savings.

5.) Know your weakness. What do you frivolously spend money on? Is there something you can't seem to resist buying? Knowing what your weakness is can help you control it. I deleted the eBay app from my phone because I noticed I would get bored and look up things like clothes and books that I didn't really need. By deleting it, I helped control a weakness.

6.) Don't go to the shops. Just don't go. Don't wander around, don't window shop, don't meet friends there for a coffee. Just don't. Shopping centres and malls are not a source of entertainment (well, they are but shouldn't be.) There are so many other ways to spend your time or meet up with friends. How often do you 'window shop' then end up spending?

7.) Compare. Simple, but not done enough. Compare everything. Shop around for insurance, bank accounts, electricity, phone, internet, everything. If you are paying for something, compare the deals out there and make sure you are getting the best one for your circumstances.

8.) Learn to DIY. Some things are better left to professionals, but others you can learn to do yourself and save significant amounts of money.

Carrying water and some snacks with you saves a ton of money. I would always get caught hungry or thirsty while running errands. I wastefully spent money all of the time. Now I make it a habit to bring a bottle of water and a protein bar or almonds with me to save money.